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AUDJPY - Upward trend will continue, Long trade by market price recommended

July 28, 2022 8:02:11 AM by Alexander Zorevyk
Forecast Details
PairAUDJPY
Direction Buy
StatusClosed (94.00)
8:02
8:02
Jul. 28, 2022
+80 p
95.60
Target 1
94.80
Entry
-80 p
94.00
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is selling, we should consider sticking to Buy Orders.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The given Stop Losses of market participants are on the same level as the previous high, which will serve as the target for our trade.
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